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CSR disclosure and financial access: a case study of Pakistan

This study aimed at examining the association of Corporate Social Responsibility (CSR) disclosure with access to finance by estimating the level of financial constraints faced by listed firms of the Pakistan Stock Exchange. CSR disclosure (CSRD) is attracting the attention of researchers and stakeho...

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Main Authors: Anwar, Zeshan, Abbas, Kausar, Khan, Madiha, Abdul Razak, Dzuljastri
Format: Article
Language:English
English
Published: Kulliyyah of Economics, International Islamic University Malaysia 2019
Subjects:
HG Finance
Online Access:http://irep.iium.edu.my/73045/1/73045_CSR%20disclosure%20and%20financial%20access.pdf
http://irep.iium.edu.my/73045/6/73045%20CSR%20disclosure%20and%20financial%20access%20%20WOS.pdf
http://irep.iium.edu.my/73045/
https://journals.iium.edu.my/enmjournal/index.php/enmj/article/view/672/320
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spelling my.iium.irep.730452020-03-27T02:31:18Z http://irep.iium.edu.my/73045/ CSR disclosure and financial access: a case study of Pakistan Anwar, Zeshan Abbas, Kausar Khan, Madiha Abdul Razak, Dzuljastri HG Finance This study aimed at examining the association of Corporate Social Responsibility (CSR) disclosure with access to finance by estimating the level of financial constraints faced by listed firms of the Pakistan Stock Exchange. CSR disclosure (CSRD) is attracting the attention of researchers and stakeholders and also becoming a vital source of competitiveness and information dissemination. Many businesses in Pakistan have developed the structure for CSR activities but the awareness of CSR concept and its disclosure is still limited in Pakistan. Panel data set has been used from annual reports of 55 non-financial companies listed on the Pakistan Stock Exchange during the period 2013 to 2017 to investigate the impact of CSRD on financial access of firms by estimating the level of capital constraints they faced. The results reveal a significant positive impact of CSRD on firm financial access; the firms with higher CSRD face fewer capital constraints, resulting in better financial access. This study contributes to existing CSR literature which highlights the vital role that capital markets play in assessing the potential for long-run value creation by firms adopting CSR strategies. This study further highlights the relationship between capital markets and socially responsible firms by focusing on the critical impact of CSRD on the firm’s capital constraints. It contributes to an emerging literature inside CSRD which highlights the vital role played by capital markets in assessing the potential for long-run value creation by firms adopting CSR strategies. This study further highlights the relationship between capital markets and socially responsible firms by focusing on the critical impact of CSRD on the firm’s capital constraints. It provides a better understanding of legitimacy and stakeholder theory which motivates firms for CSRD and also makes a significant methodological contribution to CSRD literature by developing the CSRD index. Kulliyyah of Economics, International Islamic University Malaysia 2019-06-29 Article PeerReviewed application/pdf en http://irep.iium.edu.my/73045/1/73045_CSR%20disclosure%20and%20financial%20access.pdf application/pdf en http://irep.iium.edu.my/73045/6/73045%20CSR%20disclosure%20and%20financial%20access%20%20WOS.pdf Anwar, Zeshan and Abbas, Kausar and Khan, Madiha and Abdul Razak, Dzuljastri (2019) CSR disclosure and financial access: a case study of Pakistan. International Journal of Economics, Management and Accounting, 27 (1). pp. 167-186. E-ISSN 2462-1420 https://journals.iium.edu.my/enmjournal/index.php/enmj/article/view/672/320
institution Universiti Islam Antarabangsa Malaysia
building IIUM Library
collection Institutional Repository
continent Asia
country Malaysia
content_provider International Islamic University Malaysia
content_source IIUM Repository (IREP)
url_provider http://irep.iium.edu.my/
language English
English
topic HG Finance
spellingShingle HG Finance
Anwar, Zeshan
Abbas, Kausar
Khan, Madiha
Abdul Razak, Dzuljastri
CSR disclosure and financial access: a case study of Pakistan
description This study aimed at examining the association of Corporate Social Responsibility (CSR) disclosure with access to finance by estimating the level of financial constraints faced by listed firms of the Pakistan Stock Exchange. CSR disclosure (CSRD) is attracting the attention of researchers and stakeholders and also becoming a vital source of competitiveness and information dissemination. Many businesses in Pakistan have developed the structure for CSR activities but the awareness of CSR concept and its disclosure is still limited in Pakistan. Panel data set has been used from annual reports of 55 non-financial companies listed on the Pakistan Stock Exchange during the period 2013 to 2017 to investigate the impact of CSRD on financial access of firms by estimating the level of capital constraints they faced. The results reveal a significant positive impact of CSRD on firm financial access; the firms with higher CSRD face fewer capital constraints, resulting in better financial access. This study contributes to existing CSR literature which highlights the vital role that capital markets play in assessing the potential for long-run value creation by firms adopting CSR strategies. This study further highlights the relationship between capital markets and socially responsible firms by focusing on the critical impact of CSRD on the firm’s capital constraints. It contributes to an emerging literature inside CSRD which highlights the vital role played by capital markets in assessing the potential for long-run value creation by firms adopting CSR strategies. This study further highlights the relationship between capital markets and socially responsible firms by focusing on the critical impact of CSRD on the firm’s capital constraints. It provides a better understanding of legitimacy and stakeholder theory which motivates firms for CSRD and also makes a significant methodological contribution to CSRD literature by developing the CSRD index.
format Article
author Anwar, Zeshan
Abbas, Kausar
Khan, Madiha
Abdul Razak, Dzuljastri
author_facet Anwar, Zeshan
Abbas, Kausar
Khan, Madiha
Abdul Razak, Dzuljastri
author_sort Anwar, Zeshan
title CSR disclosure and financial access: a case study of Pakistan
title_short CSR disclosure and financial access: a case study of Pakistan
title_full CSR disclosure and financial access: a case study of Pakistan
title_fullStr CSR disclosure and financial access: a case study of Pakistan
title_full_unstemmed CSR disclosure and financial access: a case study of Pakistan
title_sort csr disclosure and financial access: a case study of pakistan
publisher Kulliyyah of Economics, International Islamic University Malaysia
publishDate 2019
url http://irep.iium.edu.my/73045/1/73045_CSR%20disclosure%20and%20financial%20access.pdf
http://irep.iium.edu.my/73045/6/73045%20CSR%20disclosure%20and%20financial%20access%20%20WOS.pdf
http://irep.iium.edu.my/73045/
https://journals.iium.edu.my/enmjournal/index.php/enmj/article/view/672/320
_version_ 1662753730016051200
score 13.211869

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